Essex Financial Services Inc. Sells 350 Shares of Cameco Co. (NYSE:CCJ)

Essex Financial Services Inc. trimmed its stake in Cameco Co. (NYSE:CCJ) (TSE:CCO) by 4.8% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 7,018 shares of the basic materials company’s stock after selling 350 shares during the period. Essex Financial Services Inc.’s holdings in Cameco were worth $345,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC raised its holdings in Cameco by 235.3% in the 1st quarter. Venturi Wealth Management LLC now owns 570 shares of the basic materials company’s stock worth $25,000 after acquiring an additional 400 shares during the period. LRI Investments LLC bought a new position in Cameco in the 1st quarter worth approximately $26,000. Principal Securities Inc. acquired a new position in shares of Cameco during the fourth quarter worth approximately $29,000. Lindbrook Capital LLC boosted its position in shares of Cameco by 26.0% in the first quarter. Lindbrook Capital LLC now owns 1,070 shares of the basic materials company’s stock valued at $46,000 after acquiring an additional 221 shares during the period. Finally, Larson Financial Group LLC grew its stake in shares of Cameco by 99.3% in the first quarter. Larson Financial Group LLC now owns 1,204 shares of the basic materials company’s stock worth $52,000 after acquiring an additional 600 shares during the last quarter. 70.21% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on CCJ. Cantor Fitzgerald upgraded shares of Cameco from a “neutral” rating to an “overweight” rating in a research note on Wednesday, July 31st. Bank of America lifted their price objective on Cameco from $59.00 to $60.50 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Glj Research restated a “buy” rating and issued a $63.73 target price on shares of Cameco in a research note on Wednesday, August 14th. The Goldman Sachs Group boosted their price target on shares of Cameco from $56.00 to $62.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Scotiabank lowered their target price on shares of Cameco from $81.00 to $80.00 and set an “outperform” rating on the stock in a research note on Monday, August 19th. One analyst has rated the stock with a sell rating, six have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Cameco has a consensus rating of “Moderate Buy” and an average target price of $65.37.

Cameco Stock Up 1.5 %

Shares of CCJ opened at $40.84 on Tuesday. The business’s 50 day simple moving average is $45.08 and its 200-day simple moving average is $46.73. Cameco Co. has a one year low of $35.18 and a one year high of $56.24. The company has a market capitalization of $17.77 billion, a P/E ratio of 104.72 and a beta of 0.92. The company has a debt-to-equity ratio of 0.23, a current ratio of 3.22 and a quick ratio of 1.48.

Cameco (NYSE:CCJ) (TSE:CCO) last posted its quarterly earnings data on Wednesday, July 31st. The basic materials company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.14). Cameco had a net margin of 9.72% and a return on equity of 5.63%. The company had revenue of $598.00 million during the quarter, compared to analyst estimates of $756.00 million. During the same quarter in the previous year, the business posted ($0.01) EPS. The company’s revenue was up 24.1% compared to the same quarter last year. As a group, sell-side analysts predict that Cameco Co. will post 1.06 EPS for the current fiscal year.

About Cameco

Cameco Corporation provides uranium for the generation of electricity. It operates through Uranium, Fuel Services, Westinghouse segments. The Uranium segment is involved in the exploration for, mining, and milling, purchase, and sale of uranium concentrate. The Fuel Services segment engages in the refining, conversion, and fabrication of uranium concentrate, as well as the purchase and sale of conversion services.